At what rate percentage compound interest does a sum of money becomes four fold in 2 years?

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Solution

The correct option is C 20%Let us assume the principal to be ₹ y. Then, the amount will be ₹ 1.44y. And, n = 2 years We know that, A=P(1+r100)n 1.44y=y(1+r100)n 1+r/100=1.2 r/100=1.2−1=0.2 r/100=2/10 r=20 Therefore, the rate of compound interest is 20%.

Vimal Robinson said: (Sun, Jan 28, 2018 11:47:24 PM IST)

Given Data
Amount = 4 Principle
n = 2 years
R =?

A = P (100+R/100)^2
4P = P ((100+R/100)^2)
Both side of P are cancelled and take square of 4
2^2 =100+R/100)^2
Both side of Square is cancelled
R = 200-100
R = 100%

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Saravanan said: (Tue, May 31, 2016 06:07:08 PM IST)

Ans: 100

Solution:

Formula for rate of compound interest (r) is equal to 100[(m^1/t - 1)]

r = 100[(m^1/t - 1)]
r = 100[(4^1/2 - 1)]
r = 100[(2 - 1)]
r = 100

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Kashifsiyal said: (Tue, Oct 10, 2017 04:48:55 PM IST)

Here What is m?

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Daud Jutt said: (Fri, Nov 3, 2017 04:50:12 PM IST)

I think m is money @Kashifsiyal.

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